During a press conference at the Casa Grande del Pueblo (government headquarters), Arce highlighted that the New Development Bank of the BRICS, comprising Brazil, Russia, India, China, and South Africa, has begun to prioritize financing for industrialization processes, which opens a great opportunity for Bolivia.

The president affirmed, “This is a significant event (…). Our country, from our government, has emphasized and stressed the industrialization that Bolivia must achieve (…).”

Arce added that this is not a distant issue on the international agenda, to the point that the New Development Bank of the BRICS countries is specifically considering financing for industrialization.

He stated, “We were the ones who promoted industrialization, we were the ones who are consolidating the process in the country, and we would like this legacy to remain permanently as a State policy.”

Arce recalled that the BRICS account for 40 percent of the world’s population, 37 percent of the world’s Gross Domestic Product (GDP), 24 percent of international trade, and 44 percent of the global oil production.

He described that at the BRICS Summit in Rio de Janeiro, Bolivia participated in two sessions: one on the economy, multilateralism, and artificial intelligence (AI), and another focused on the environment and global health.

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